About a year and a half ago, there were right around 28,000 Bitcoin ATMs scattered throughout the country. As of July 2022, that number has climbed up over the 50,000 mark.
Because of this, you shouldn’t have too much trouble finding a Bitcoin ATM machine in your area. In fact, you might be able to track down multiple Bitcoin ATMs throughout your city or town.
But before you begin using a Bitcoin ATM, you should know about all the different services that it can provide. The average Bitcoin ATM can set you up with a whole host of services when you step up to it and create an account.
Today, we’re going to break down some of these services so that you know what to expect when you use a Bitcoin ATM. Learn all about the services that you’ll get at Bitcoin ATM locations below.
Buying Bitcoin
According to one study, about 46 million Americans are expected to purchase Bitcoin in the coming year. Even though the price of Bitcoin has gone down in recent months, it isn’t stopping people from snatching up as much Bitcoin as they can.
If you’re interested in doing it, you’re welcome to do it right online if you would like. But you should know that you can also buy Bitcoin right at a Bitcoin ATM machine.
All that you’ll need to have on hand to buy Bitcoin at a Bitcoin ATM is a photo ID, a cryptocurrency wallet, and cash that you can insert into the machine to get your hands on Bitcoin. Almost as soon as you put cash into a Bitcoin ATM machine, it’ll send you Bitcoin to your crypto wallet for safekeeping.
As we alluded to earlier, you can also buy Bitcoin online if you want. But using a Bitcoin ATM machine is hands down, the easiest way to turn cash into cryptocurrency in an instant.
Selling Bitcoin
Would you like to turn Bitcoin that you already own into cash instead of using cash to buy Bitcoin? That’s another option that you will have when you use a Bitcoin ATM machine.
If you’re ever out and about and want to obtain some cash, you don’t have to rely on your bank to provide you with it anymore. Instead of utilizing a traditional ATM, you can use a Bitcoin ATM machine to transform Bitcoin into cash.
You’ll need to use the same things (photo ID, crypto wallet, etc.) that you would use to buy Bitcoin to sell it. You’ll also need to be sure that you actually have Bitcoin in your crypto wallet prior to visiting a Bitcoin ATM machine.
But as long as you have these things, you shouldn’t have any issues turning crypto into cash in just seconds. It’ll put some money right into your pocket without taking a toll on your bank account at all.
Buying and Selling Other Forms of Cryptocurrency
Bitcoin is easily the most popular type of cryptocurrency out there today. But it’s worth mentioning that it is not the only type of crypto.
Far from it, actually! There are dozens of other types of crypto that you can invest in if you would like. You can check out a list of some worthwhile cryptocurrencies to see what appeals to you most.
Unfortunately, you aren’t always going to be able to buy and sell all of the different types of crypto at a Bitcoin ATM machine. But you should be able to buy and sell at least some of them at the average Bitcoin ATM.
There are also many Bitcoin ATM manufacturers that are working to add new forms of crypto to their machines all the time. Keep your eyes peeled to see which types of crypto you can buy and sell at Bitcoin ATM machines as you move forward.
Buying Gold
With the economy slumping on a global level right now, there is a big demand for gold throughout the world. Gold dealers are having a hard time keeping up with this demand and are sometimes having to turn people who are interested in buying it away.
Wouldn’t it be nice if there was an easier way to secure gold when you’re in the market for it? Well, believe it or not, you might be able to buy gold at a Bitcoin ATM machine so that you don’t have any problems purchasing it through gold dealers.
Byte Federal Crypto ATMs are great for those who want to buy Bitcoin. But they’re also being used by many people who want to buy gold, thanks to Byte Federal’s partnership with a company called Vaultoro.
They’ll help you turn Bitcoin into real physical gold that is stored in a Swiss vault that is monitored at all times. You might want to look into buying gold in this way if you’ve had a tough time doing it in other ways in recent months.
Selling Gold
It wouldn’t be the worst idea in the world for you to buy some gold now and hold onto it for the foreseeable future. It’s probably only going to increase in value as long as the economy remains in its current state.
But at some point, you will also want to sell the gold that you have and turn it into cash. And you will have the opportunity to do this through a Bitcoin ATM machine from Byte Federal.
Just like you can buy gold through a Bitcoin ATM machine, you can also sell it and turn it back into either crypto or cash. It’ll help you avoid having to communicate with a gold dealer about all your gold transactions.
Buying Gift Cards
The gift card market in this country is growing by leaps and bounds. This is because Americans are spending a small fortune on gift cards each year.
These days, you can buy gift cards in a variety of places. You can purchase them in almost any supermarket or pharmacy. You can also buy them online if you would like.
And now, you can even pick up gift cards at a Bitcoin ATM machine if you would like. You can utilize either cash or cryptocurrency to pick up a gift card when you’re on the move.
Additionally, you can have gift cards sent to you digitally so that you can pass them along to family members, friends, etc., without having to physically hand them to people. It’s just one more thing that you’ll be able to purchase because of Bitcoin ATMs.
Asking Bitcoin ATM-Related Questions
Once you get the hang of how to use Bitcoin ATM machines, you shouldn’t have too many questions about doing it. But when you’re first getting your feet wet, you will no doubt have some questions that will pop up.
You might be under the impression that you’re going to have to find answers to these questions on your own. But in reality, a good Bitcoin ATM machine is going to come with live customer service options that will allow you to ask any questions you might have to someone in real-time.
Better yet, a good Bitcoin ATM machine is going to have live customer service representatives who are located right here in the U.S. So you won’t have to worry about speaking with someone who is all the way on the other side of the world about your Bitcoin ATM machine issues.
If nothing else, the live customer service reps available through good Bitcoin ATM machines will provide you with some much-needed peace of mind. If you feel uncomfortable while utilizing a Bitcoin ATM machine at any time, you can stop and speak with someone about it. They’ll be able to put your mind at ease and then let you get back to taking advantage of all the services that Bitcoin ATMs have to offer.
Enjoy Each of These Services When Using a Bitcoin ATM Machine
Many people think that Bitcoin ATM machines will help them do little more than buy and sell Bitcoin. But as you’ve seen here, a Bitcoin ATM machine can do so much more than that!
With a Bitcoin ATM machine, you’ll be able to stay on top of all your Bitcoin transactions. But you can also complete transactions involving other types of cryptocurrency, gold, and even gift cards. It’ll make you wonder why you didn’t decide to start using a Bitcoin ATM machine so much sooner.
Browse through our blog for more informative articles that will help to improve your financial situation.